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11224 N 186th Lane Surprise, AZ 85388

3 Beds 3 Baths 2,662 sqft Built 2017

$375,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 08, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $140.87
  • 6 Days on Market
  • MLS # : 6169061
  • Updated Date : 12/08/2020 at 14:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,662 sqft
  • Baths : 2 full , 1 half
Listing Agent

My Home Group Real Estate

Listing Agent's Description

Prepare to be amazed! FORMER MODEL HOME! All the upgrades without you getting price gauged for the endless list of perks! You simply won't believe your eyes! The home itself boasts a gourmet kitchen fit for a chef with custom cabinetry, granite counters, and high end appliances. You will find custom paint and flooring tucked neatly into an open floor plan, complete with a cozy den, and spacious loft. The grandiose master bedroom features a spacious walk-in closet and a full bath with double sinks, as well as a separate tub and shower. Finally, a picturesque multi slider will welcome you into the expansive beautifully finished backyard with artificial grass, covered patio, and built in BBQ! It's modern with that farmhouse flare, in a high demand neighborhood with parks galore. Don't blink!

SEE MORE

PRICE & RENT TRENDS

Neighborhood: Surprise

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $109k271k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Surprise

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9791673

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Mountain View Elementary School Primary Regular 1,124 49 5
Mountain View Elementary School Middle Regular 1,124 49 5
Shadow Ridge High School High Regular 1,735 77 4

Mountain View Elementary School

  • Education Level: Primary
  • # of students: 1,124
  • # of teachers: 49
5
GreatSchools Rating

Mountain View Elementary School

  • Education Level: Middle
  • # of students: 1,124
  • # of teachers: 49
5
GreatSchools Rating

Shadow Ridge High School

  • Education Level: High
  • # of students: 1,735
  • # of teachers: 77
4
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$1,384
Property Tax -$282
Property Insurance -$79
HOA -$89
Property Management Fees -$99
CASH FLOW
-$312

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$375,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.35%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 6.24%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,384

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

1.58

YEARS SAVED

$4,066

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $0

    LIST RENT
  • $0

    LIST RENT PER SQFT
  • $1,863

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$0
1$02$1,6253$1,8354$1,8955$1,985
$1,985
RENT COMPS ANALYSIS
  • 11224 N 186th Lane Surprise, AZ 1
    • 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,662 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $0
    • $0.00
    •  
  • 18624 W Sunnyslope Lane Waddell, AZ 2
    • 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,379 Sqft ∙ Built 2005
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.68
    •  
  • 18654 W Carol Avenue Waddell, AZ 3
    • 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2014
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.67
    •  
  • 18019 W Turquoise Avenue Waddell, AZ 4
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2006
    property image
    LEASED 07/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.71
    •  
  • 19017 W Yucatan Drive Surprise, AZ 5
    • 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,687 Sqft ∙ Built 2018
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,985
    • $0.74
    •  
PROPERTY LISTING DETAILS
Julie Calza
My Home Group Real Estate
Brandon Graham
1.866.250.5610
Mynd Property Management
LC664597000
Arizona Regional Multiple Listing Service, Inc. ( ARMLS)
MLS #: 6169061
Last Updated: 12/08/2020
support@investimateroi.com

Indicates a property listed by a real estate brokerage other than HomeUnion/Investimate by Mynd. All information should be verified by the recipient and none is guaranteed as accurate by ARMLS. © 2020 Arizona Regional Multiple Listing Service, Inc. All rights reserved.

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